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CSPAN
Jan 10, 2013 7:00pm EST
and many times been very critical of a lot of things he was doing for the treasury department was doing the secretary take was doing. he was my main porthole into treasury. we had a number of conflicts as you can imagine. our jobs are not necessarily going to create a long-lasting friendship. my job was to criticize him and make recommendations where he and the program had gone off the rail, which by 2010 is pretty often. we decided to have a meeting offline to clear the air, have a cup during and defuse what was a building tension between the two of us. our weekly meetings had devolved into shouting matches often. at this meeting, i got a real taste of how washington and what allison told me during this meeting was the sort of petty chitchat will talk about our families. i told him at first i was about to be born. she was about three weeks away at that point. he talked to me about his commute to washington back and forth from connecticut and his grown children and eventually turned the conversation and pointed out that i was down, my job as special inspector general is by its nat
CNN
Jan 10, 2013 12:00pm EST
. >>> next hour president obama will nominate his chief of staff to be the next treasury secretary. big job. he want jack lew to replace timothy geithner. lew has been a budget director for president obama and former president clinton. he also has experience with banks. the former chief operating officer for city groi group. he has a wife and two children. ali, good to see you, my friend. lew is considered a budget whiz as we were discussing yesterday. >> yeah. >> a seclude negotiator if you like. quality that will come in handy when he takes on the negotiations with congress on the debt, reining in spending. tell us what you know about his negotiating style. >> i'll tell you, the one problem is that the white house in general has not been seen as the most successful group of negotiator. being the chief of staff to president obama might be seen as a bit partisan for the job. let me tell you, four years ago, michael, the world was in a financial crisis, it all circulated around banks and credit and central banks. timothy geithner was the guy for the job. head of the federal reserve. he was i
FOX News
Jan 12, 2013 11:00am PST
. we'll tell you what's on the table. plus, president obama unfettered, what his treasury pick and national security team say about the president's world view and his agenda for the the next four years. welcome to the journal editorial report. i'm paul gigot. that didn't take long, fresh off the biggest tax increase the country has seen the last 20 years. the democrats are planning their next revenue grab. mitch mcconnell declared the tax issue over this week, saying it's now time to focus on washington's spending program. but president obama insists any cut must be be accompanied by more tax revenue. and mouse minority leader nancy pelosi says future tax hikes are not off the table. >> the president had said originally he wanted 1.6 trillion in revenue and he took it down to 1.2 as a compromise and this legislation will get 620 billion dollars, very significant, high end tax, changing the high end tax rate to 39.6%, but that's not enough on the revenue side. >> paul: joining the panel, dan henninger, editorial board member, mary anastasia o'grady and kim strassel. kim, before we g
CNBC
Jan 10, 2013 1:00pm EST
choice for treasury secretary. we will hit it live in about 15 minutes. and see why some are so concerned about the choice and it has nothing to do with his squigly signature, sue. >> indeed, it does not, ty. it has been a tough day for shareholders right now down at $60.50. after holiday sales came in at the low end of expectations. it was $992 plilon worldwide. u.s. same store sales were the weakest dropping 2% p european sales were flat. asia was a bright spot with comparable sales increasing 7%. tiffany now saying its annual earnings will come in at the low end of its previous guidance and the street is punishing it for that today, ty. >> thank pup teen retailers, reporting holiday sales figures and here is how they are tried trading right now. here is a look . courtney reagan is on the retail beat. court? >> as with teens, the stocks can be a little fickle. three releasing holiday results today. each tell a different story. the teen retailer lowering its quarterly guidance. competitor american eagle reports sales improving by 5%, including on-line business but excludeing e-
FOX Business
Jan 10, 2013 1:00pm EST
francis. lori: i am lori rothman. president obama bought t but tos picks for treasury secretary. plus, what the nominations mean for the market. melissa: and good news for the gas market. lori: if you build it, the jobs will come. creating jobs in the small town, we're pleased to have the mayor join us with his story in minutes. melissa: very cool. lori: time for a market check. let's head down to the floor the new york stock exchange, giving back earlier gains. nicole: that is true. we have been pushed around a little bit, even moved into negative territory but the move to the upside and getting some of the moves to the upside with the gains we are seeing, dow jones industrials up 34 points, the bank stocks are looking little better and that is one of the reasons we have had the turnaround. drug stocks doing good. the dollar continues to drop. as the dollar is dropping that gives room for the commodities and equities to move higher. i wanted to take a look at a name that is making news and that is molly corporation. rare earth is something that has the demand they have seen is dwindl
MSNBC
Jan 10, 2013 10:00am PST
jack lew to be his next treasury secretary replacing timothy geithner. lew is going from a wall street and capitol hill favorite geithner it a budget cruncher not known for relationships with conservative republicans. >> he is knowledgeable. he works hard. he gets the job done and done right. he is a leader in every sense of that word. is he lib sflal you bet. is he more liberal than i am? you bet. he will offer the president his advice, but i guarantee you he is also a great soldier. the president makes a decision. jack lew will march forward. >> with lew's apointment to treasury, does the president need some binders full of women? >> the president believes that diversity is important because it -- having diversity increases the excellence of the pool of advisors around you, pool of the staff that you have here, and i think that's been demonstrated by the kinds of -- you know, the degree of talent that he has around him now and has had around him in the first term, and i think it will be true in the second term. >> guns and videos. will vice president biden get anywhere with th
MSNBC
Jan 10, 2013 1:00pm EST
challenges ahead. what's the reaction from the markets from foreign capitol and from jack lew as treasury nominee. u.s. economics editor for "the economist," and senior economics reporter steve leaseman. steve, first to you. what are the markets saying? what is jack lew's reputation in wall street and what do you see coming forward with debt negotiations? >> i think this appointment is being taken advisedly in the sense that it's a kind of wait and see. you know, from my perspective, having covered more or less -- more or less degrees, seven of the past treasury secretaries, jack lew does come to the table with a bio that perhaps has less independence in it than any treasury secretary i can remember. robert rubin, hailing from goldman sachs, salary summers was a renowned economist. paul o'neil from alcoa. there's nothing on lew's resume that suggests any measure of independence. markets want a little bit of independence from their treasury secretary. that said, if jack lew's appointment can, in fact, result in some kind of longer term budget deal affixed to entitlements, tax reform, corpo
PBS
Jan 9, 2013 4:30pm PST
learning the president will nominate jacob lew as his next treasury secretary. >> tom: and with its reputation already on the ropes, a.i.g., the big bailed-out insurer, decides against suing uncle sam. >> susie: th and more tonight on "n.b.r."! >> tom: there could soon be a new signature on the dollar bill, jacob "jack" lew is said to be the president's pick to replace treasury secretary timothy geithner. that nomination is expected tomorrow. should he be confirmed by the senate, one of lew's first challenges will be dealing with the rapidly approaching debt ceiling. darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay
CBS
Jan 9, 2013 7:00pm EST
learning the president will nominate jacob lew as his next treasury secretary. >> tom: and with its reputation already on the ropes, a.i.g. the big bailed-out insurer decides against suing uncle sam. >> susie: that and more tonight on "n.b.r."! >> tom: there could soon be a new signature on the dollar bill, jacob "jack" lew is said to be the president's pick to replace treasury secretary timothy geithner. that nomination is expected tomorrow. should he be confirmed by the senate, one of lew's first challenges will be dealing with the rapidly approaching debt ceiling. darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay
MSNBC
Jan 10, 2013 9:00am EST
"the daily run-down." >> president obama makes his pick for the top spot at treasury. is jack lew ready for a full-blown fight over the debt ceiling in his first month on the job? pocket change. you heard about this idea. the trillion dollar coin to handle the debt ceiling. well, today we will tell you where it all started and whether or not it is really something president obama might use. they won't rule it out important some reason. and back to the future. the gun debate of 1994 had many lessons for the fight unfolding today. what can president obama learn from president clinton's success? good morning from washington. thursday, january 10, 2013. this is "the daily run-down." i'm chuck todd. let's get to my first read of the morning. this afternoon president obama will formally name his chief of staff, jack lew, to replace treasury secretary tim geithner. a sign the white house expects a big fight over the federal budget lew is the safe pick. he has been confirmed twice by the senate before. just in this administration. if confirmed in time, he can face his first test next month over
CNN
Jan 12, 2013 10:00am PST
31st, but like last time the u.s. treasury is using extraordinary measures to get through about late february or early march. if congress doesn't act by then, the government risks not being able to pay some of its bills. republicans seem to think the debt ceiling is a useful tool to limit how much the government spends, but that is not what the debt ceiling law is supposed to do. it gives the u.s. treasury the flexibility to borrow money to pay the government's bills without going to congress to get approval every single time. it has nothing to do with spe spending or debt control. you might want it to be about spending control like i'd like to be in "people's" list of 50 most beautiful people. wishful thinking doesn't make it happen. they can use the debt ceiling as a hostage like they attempted to use the fiscal cliff as a hostage, to get something else done, something they haven't been able to use do using the normal democratic process because that process is broken. the fiscal cliff deal puts off dealing with mandatory spending cuts until march 1st. republicans fully spend to use
CSPAN
Jan 11, 2013 6:00am EST
things. >> thursday, president obama announced white house chief of staff jack lew to head the treasury department. he praised outgoing secretary tim geithner. if confirmed, he would take over the treasury department's before the white house and congress debates the debt ceiling. this is 15 minutes. >> ladies and gentlemen, the president of the united states accompanied by some of tim geithner and sap jack lew. >> men, everybody, please have a seat. a little more than four years ago, i stood with mr. tim geithner and denounced him as my first to my cabinet. we were barely two months into the financial crisis, the stock market have quivered, the housing market had cratered as well, a bank after bank was on the verge of collapse, and worst of all, more than 800,000 americans would lose their jobs in just a bad month. and the bottom was not yet in sight. i cannot blame tim when he told me he was not the right guy for the job. [laughter] extensivet tim's experience with economic policy made him qualified and i knew he could hit the ground running. as chairman of the new york federal reserve
MSNBC
Jan 12, 2013 5:00am PST
to give the secretary of the treasury latitude to issue kmemtive coins for collectors but the plain meaning of the statute is clear. they can issue a platinum coin in any domination as the secretary of the treasury designates. the idea of trillion dollar coin advocates is the president would direct the treasury to mint a trillion dollar coin and deposit it in the bank account if he federal reserve and we have a trillion dollars more in the bank and we don't have to worry about the debt ceiling. if this sounds surreal or magic magical, you are not wrong. it's bizarre enunprecedented. even if it's illegal, it seems to run against our expectations of how the government does and should behave. it's the kind of thing that justice isn't done. but that is the entire point. behavior of individuals is constrained by the formal rules, implicit prohibitions that are not spelled out but just not done. and what they have excelled at in the era of obama is exploiting the gap between the two. they've made a habit of doing the thing that just isn't done. requiring a 6 o vote majority for every proc
Comedy Central
Jan 10, 2013 11:00pm PST
gone now, please don't look that up. how would it work? >> in theory the treasury would mint the coin and walk it over the federal reserve for deposit so the government could pay it bills. >> jon: really? really mr. tibbl snerks. [ laughter ] i don't want to bust your bibbles here, but you know you are only holding a quarter, snriet sure they could mint a trillion dollar coin and walk it over the treasury even though it could be the most tempting walk in history because we know the store across the street is chocolate, blowjobs and beyond. you definitely want to -- [ laughter ] you know, we don't need some trillion dollar coin gimmick. we need to take the u.s. dollar serious again. >> president obama will nominate his chief of staff at the white house jack lew toll bet next -- to be the next treasury secretary. >> it will be his signature at the bottom of our currency. it will look something like this. [ laughter ] >> jon: that injure signature? or jut -- that is your significant in signature or are you testing to see if the pen works? [ laughter ] hey, lew, shire -- here is a tip, st
CSPAN
Jan 5, 2013 3:00pm EST
congress had passed authorizing treasury to go out and borrow $700 billion to rescue wall street, to bail out the banks and put us on the path supposedly to economic recovery. um, and this piece that i was not aware of was that when they passed this law, congress created this brand new agency. and when mike got off the phone, he explained what this agency was going to do. it was going to have two different functions. one was a mini-fbi for the t.a.r.p. that was going to be guns and badges and special agents executing search warrants, taking criminals out of their homes, putting them in handcuffs and putting them in jail. congress had realized that when pushing out so much money, it was inevitably going to draw criminal fly toss all that -- flies to all that government money. the second part was an oversight function. it was supposed to bring transparency by giving reports to congress and to the american people in what was going on in the bailout and to help guide treasury who was in charge of implementing this program to make sure the policy goals would be implemented. and as mike is
FOX Business
Jan 9, 2013 1:00pm EST
budget every year. lori: speaking of cash, treasury, budget him a new is jack lu? a man who is likely to be dominated the next treasury secretary. melissa: it is no secret that congress -- even the cardassians. lori: cannot wait to hear the results of that. let's check on the market. it has been 15 minutes since we last checked with nicole petallides. nicole: there are nice gains. we have come off of our earlier highs. still, the dow jones industrials up about 55 points here on wall street. the u.s. dollar also with an up arrow. commodities are pulling back. let's take a look at herbalife. a name that has certainly been in the news since the middle of december. we sell the stock shooting up. this is an 8.2% stake. what you see is that pushing the stock to really jumping. we will continue to follow this and all of this comes on the heel of concerns about herbalife. melissa: thank you so much. 1351 days, that is more than three years, just in case you are wondering. the law requires congress to pass a budget every year. should somebody be in jail? >> it is a strongly worded suggestion.
FOX Business
Jan 4, 2013 3:00pm EST
. >> treasury yield broke right above. if you look at the 10-year. we have seen a little bit of backing today, but in general these are all bullish signs for the next blow weeks. as you move forward, you might see a little bit of pullback, but right now i think the market can still move fire. tracy: what signal, guys -- gary, let you take a shot at this one -- do we take from gold down $202 at one point earlier today, $30. we have to strengthen the dollar here because gold is denominated in dollars. weaker gold, you sometimes see a stronger dollar, but what message are you taking from that? >> yesterday we saw the mets come out. the first thing we saw right after that when they said were going to start easing on the quantities and at the end of 2013, we saw gold and silver pulling right on down. besides continue in the overnight session. now you're starting to get the feeling that they may not be done with this. we are seeing silver right back at that $30 range. a few cents off. gold is back up off lows. we have a lot of traders in their selling off, sitting on the sidelines, wa
PBS
Jan 9, 2013 7:00pm PST
that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or ten weeks. so you have the right to do it, but you don't have the ability to do it. >> reporter: the treasury uses a separate computer system to make interest payments on the federal debt so it is possible investors would get what they are owed. but what happens with social security, medicare and federal employee pay, is less clear. so secretary lew would have to make a decision. he could recommend the president continue business as usual-- ignoring the debt limit, borrowing money and paying the bills. as justification, lew could say the president had to choose between conflicting laws congress has passed requiring him to spend money and not spend it at the same time. >> at that point, i assume someone who would claim to be an injured party would bring suit and the federal government, if you can imag
MSNBC
Jan 11, 2013 2:30am PST
his next chief of staff after nominating jack lew to replace timothy geithner at the treasury department. the president called the move bittersweet but insisted his loss will be the nation's gain. >> over the years, he's built a reputation as a master of policy who can work with members of both parties and forge principaled coprincipal -- principled compromises. jack has my trust. i know i'm not alone in that. i hope the senate will confirm him as quickly as possible. >> during yesterday's announcement, both lew and president obama poked fun at the media attention surrounding his loopy signature. >> you've been a friend and colleague for many years. actually, decades. the american people are better off for your outstanding service. and you know, i thought i knew you pretty well, but it was only yesterday that i discovered we both share a common challenge with penmanship. >> i had never noticed jack's signature. when this was highlighted yesterday in the press, i considered rescinding my offer to appoint him. jack assures me that he is going to work to make at least one letter
FOX
Jan 10, 2013 6:00pm EST
nominated jack lou as treasury -- treasury secretary. critics are questioning his credent alls and promising a fight before lou's confirmation. craig bosswell reports from capitol hill. >> reporter: just days after appearing in the east room with a pair of nominees for cabinet post, president obama makes another announcement today, naming jack low as his next treasury secretary. >> i can not think of a better person to continue tim's work as treasury than jack lou. >> reporter: before becoming president obama's current chief of staff, lou is mr. obama's budget director, a job he held in the clinton white house. >> if converged -- confirmed, i look forward to joining the treasury department whose people are legendary for their skill and knowledge. >> reporter: some republicans are skeptical saying lou was less than honest about the president's budget and its affect on the nation's debt. >> he didn't show the kind of independence and credibility we would want in that important cabinet position. >> reporter: announcing low as a replacement for timothy geitner comes a day after hilda s
CNBC
Jan 10, 2013 4:00am EST
bond auction of the year for the al beeran company. the treasury is slashing the debt market up to 5 billion euros since 2013. lloyd's expects a positive results with the first take up. it will be the first issue to feature a collective action clause, designed to make it easier for the government to restructure debt in the case of future crisis. and president obama is expected to make the final touches to his second term economic team today. cnbc's john harwood has more on the changes coming to the u.s. treasury department. >> president obama has already filled out the members of his national security team for the second term. now he's filling out the economic term for a second term including his choice for treasury secretary. later today, we expect the president is going to appoint his current white house chief of staff jack lou as current treasury secretary. jack lew is a veteran of capitol hill and of more than one big major budget negotiations which is exactly what the president is facing right now. he's somebody with a low key demeanor who gets along well with others. his confir
CSPAN
Jan 11, 2013 7:00am EST
finest secretaries of the treasury. [applause] host: the president of the united states on timothy geithner and talking about his tenure as to -- secretary treasury. "the washington post" writes -- highlighting efforts made by the financial crisis and the housing industry. this comes as jack lew will become the next person to be nominated into that position. we want to talk to you about timothy geithner, his legacy, his time served as the treasury secretary, and your thoughts on what he has done or not done depending on your opinion. here is how you can join us this morning. you can give us a call -- if you want to send us a twet -- @cspanwj facebook.com/cspan this is how "the new york times"highlights some of his accomplishments. it says here -- that is "the new york times." prefers to 45, your thoughts on timothy geithner as the secretary treasury. -- for the first 45 minutes, your thoughts on timothy geithner as secretary treasury. more from "the new york times." they continue to write that housing is another area his leadership has been criticized. one more bit from "the new yo
FOX News
Jan 10, 2013 10:00pm EST
ripping apart president obama's pick for treasury secretary. senator jeff sessions says nominee jack lew must never be secretary of the treasury and the senator has a lot more to say and he's here. much more ahead, on the record starts right now. >> the president dominated his current chief of staff jack lew to replace the outgoing treasury secretary tim geithner. >> i cannot think of a better person to continue tim's work at treasury than jack lew. >> jack lew is very partisan, he's very political. >> he already has some strong opposition especially from the top lawmaker on the senate budget committee jeff sessions. you can't have somebody-- >> i trust his judgment, value his friendship, i know very few people get greater integrity than the man to my left. >> jack lew and the president don't think that spending is the problem. wasteful government spending is the problem. >> prosecutors say arias had one last tryst with travis alexander, killed him in a ferocious gun and knife attack. it's not a case of whodunit. it's a case of kill or be killed. if i didn't kill him, i myself would be k
FOX News
Jan 8, 2013 12:00pm PST
to the ongoing cabinet shakeup at the president's pick to be the next treasury-secretary is, quote, all but a done deal. white house sources is telling current chief of staff jack lu to top the treasury. they are saying that the president's impressed by his knowledge of the federal budget and no-nonsense style. tim ignite her has said he will not stick around for a second term. the united states had s just about a month away from hitting the so-called debt ceiling the point where the government can't pay bills. the next treasury-secretary is key to make sure that doesn't happened but lew's intelligence on is raising red flags. during the last debt ceiling battle, lew clashed with the g.o.p. now he'll face some of those same lawmakers could be a very tough confirmation battle. what did the white house press second say about this. >> jack lew is the chief of staffed has served in a critical role for on this administration as director of the office of management and budget. a well known figure both here at the white house and throughout washington for the past four years. for more, he
FOX
Jan 11, 2013 5:30am EST
as treasury clinton, he presidee over row. so for all the talk out there about deficit reduction, paking ure our books are balanced, this is the guy who did it, three tiims. jack lew, obbma's chief of staff and former budget director, has been by the president's side through bruising deficit reduction negotiatioos. but lew is not a ddrllng of wall street or repuulicans. in bobb &pwoodward's "the price off boehner ssys he told the - presiient "please don't senn jack lew" during the fragile debt ceiling neggtiations of 20111."it was unbelievabbe," boehner said. "at onn point i told the president, keep him out of here. i don't need somebody who just knows how to say no." with the lew announceeent, all of the president's top picks, state, briefing this week, reporters - have peppered press secretary observersshave dubbed "obama's white ggy problem". these storris are in eaction to a couple offappointmenns. i think it would be useful to &pwait and make judgments about this issue afferrthe preeident has made the totality of appointments that he will make in the ttansition to the second
FOX News
Jan 10, 2013 3:00pm PST
be the new treasury secretary is sparking harsh reaction from some on capitol hill. correspondent shannon bream on the nomination of jack lew. >> i cannot think of a better person to continue tim's work at treasury than jack lew. >> reporter: president obama nominating a new man to head the treasury department but signaling plans to continue with the fiscal policy the administration relied on in the first term. white house says lew has a keen understanding of domestic and international issues that impact the u.s. economy and point to the track record. >> under president clinton he presided over three budget surpluses in a row. with the talk of deficit reduction, making sure the boog are balanced this is the guy who did it. three times. >> reporter: republican opponent, senator jeff sessions chief among them say jack lew is the wrong man for the job and without then house speaker newt gingrich refusing to allow more government spending the budget achievements would never have happened. sessions without qualification, accuses lew of lying to congress when testifying about the presid
CNBC
Jan 9, 2013 7:00pm EST
washington as i feared, obama's staff chief jack liu is headed for the treasury. i think it's a bad appointment, wrong on every count. we'll have howard dean and steve forbes debate the issue. >>> and in cooperstown, new york, rampant steroid use has resulted in this, no one will be inducted into the baseball hall of fame this year, no bonds, no clemens, no one. we have the latest on this major league dis. >>> it's not a fiscal emergency, it's about the flu and it's not going to be the only city. >>> and finally, this trillion dollar platinum coin idea to solve the debt. not only stupid, it'll make the u.s. look like a banana republic. can we please avoid that, at least? the "kudlow report" begins right now. >>> another big day on the gun control front. a key statement from vice president biden on the issue. eamon javers joins us with the details. good evening, eamon. >> the white house suggests it could use an executive order to move gun control legislation reform forward here in washington, d.c. and also today, the vice president met at the white house with gun control advocates,
FOX Business
Jan 4, 2013 11:00am EST
cannot possibly get to their mandate of six, seven, 8% of returns with a ten year treasury yield. eventually, they have to go back into equities. use saw the numbers this week. even that suggests there is still a 12 year average life of cars and in u.s. flee. you can pull forward from that. i think it will be stronger than most people think. connell: if rates are going up because of that, it is a pretty good thing. jeff, good to see you. happy new year. >> merry new year. connell: the actor patrick dempsey, would you buy coffee from this guy? he thinks you will. he is placing a bid that against the coffee giant starbucks. we will talk about what is left in your paycheck for you. people expecting a hit. just how big of a hit will it be? jeff flock is on that story. take a look at the oil market today. it is down. ♪ connell: charles payne sitting there. he is coming up in just a few moments. first, something going on in india. this fight involves a patent dispute over cancer medication. the ruling could have worldwide implications. they provide millions of patients in developing
WETA
Jan 10, 2013 6:30pm EST
u.s. secretary of the treasury. >> tom: i'm tom hudson. uncle sam wants to make sure you can afford that home loan before you buy. new rules to protect consumers from bad mortgage lenders are on their way. >> susie: and, we look at whether new year's resolutions, to lose weight, can pump up your portfolio. >> tom: that and more tonight on "n.b.r."! >> susie: president obama named today a "low key" washington hand as his new secretary of the treasury. jacob lew is being called a man who combines tough bargaining with deep economic understanding and a commitment to protecting the safety net for the poor and the elderly. some republicans have promised to oppose lew's nomination, but most say they are reserving judgment. darren gersh has more on this pivotal player. >> reporter: the president introduced his pick for treasury secretary as a man who gets tough jobs done. and one of those jobs will be protecting programs the president supports. >> as the son of a polish immigrant, as a man of deep and devout faith, jack knows every number on a page, every dollar we budget, every decision w
FOX News
Jan 10, 2013 2:00am PST
simonetti from the fox business network. let's talk about zach lew nom nae for treasury secretary. he needs to go back to the second grade to fix his penmanship. he is expected to be nominated as treasury secretary. let's take a look at his signature. 8 loops for each of letters of his name. that would be on dollar bills below the seal of the treasury on the right side. take a look at timothy geithner. he had to do to to print. it went from the first one to the second one. the second one much clearer. we have to see if mr. lew will have to do his as well. >> aig has been in the news a lot this week because of the shareholder lawsuit. >> congratulations aig is not suing not to join a shareholder lawsuit against the government and tax payer. which they receive add bailout. >> which they mapaid. >> the terms of the bailout were unfair to shareholders. even without aig's participation that will move forward. >> can the government just come in and grab a company and make itself own the company? that was another part of its lawsuit, too. >> tell us about this, facebook may be coming out with a ph
FOX Business
Jan 10, 2013 6:00pm EST
nomination as the next treasury. >> i considered resending my offer to appoint him. >> covering the roller-coaster handwriting and if it is the worst signature ever. also, should you spoil your kids or give them tough love? hear how millionaires are raising their youngsters according to a new survey. we are on the case next on "the willis report." ♪ ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses you know it even after all these years. but your erectile dysfunction - you know,that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the mom
MSNBC
Jan 9, 2013 9:00am PST
tightening, president obama is poised to nominate as the next treasury secretary a man who brings his lunch to work every day, a cheese sandwich and apple to be precise, president obama will reportedly tap jack lew tomorrow to replace timothy geithner. lew would take over on the eve of another debt ceiling battle. in round one during the summer of 2011, boehner's top staffer called lew's debt ceiling negotiations disrespectful and dismissive. according to david plouffe, that is because jack knows the numbers and republicans couldn't pull a fast one. two names are being floated to replace lew, dennis mcdonagh, currently his deputy national security adviser and ron klain. but the latest cabinet nomination is, surprise, creating consternation among who else, congressional republicans. after calling chuck hagen an in-your-face nomination outside of the mainstream, the pugnacious gop has already made known its displeasure with jack lew, calling his nomination controversial, a mistake, and worst of all, irritating. according to senator mike johanns of nebraska, i just think there are econom
CNBC
Jan 10, 2013 4:00pm EST
tossed around as a way to avoid any standoff between the two sides. the idea is that the treasury company mint the coin, deposit it at the federal reserve so that the government can pay its bills, but noted economist jim grant thinks it's a bad idea. does have his own solutions to this looming crisis. jim grant joins us from grant interest rate observer. great to see you. happy new year. thanks for joining us once again. you don't think this trillion dollar coin is the answer. >> that is an urban legend. >> yeah. >> okay. what we need to do i think, first of all, is to speak clearly about this problem we this, this debt problem. for example, secretary of the treasury is not the secretary of the treasury. it is secretary of the debt. there are being no net treasurer in the treasury so we must be clear about that. we use the word trillion. $1 trillion is a million million. $1 trillion is an incomprehensible number we throw around and it numbs us, and we must speak of it in a weight. so $1 trillion is 22 million pounds of 100 bills. 16 trillion is 360 million pounds of $100 bills. that's jus
FOX Business
Jan 4, 2013 4:00pm EST
treasury is still below 2%, the yield on the ten year treasury. but that's pretty high. it's put the price of gold. it did not put the market. >> that is an excellent question. initially a rise in interest rates mean that people think the economy is doing better and money is coming out of bonds, probably going into stocks. initially this is good, but if we were to go for another 23 or 24 basis points, it eventually returned to be negative. right now it's a matter of confidence. things up pass this week. two big events that could have been bad, and a warrant. liz: okay. sometimes they don't last that long. >> well, right now, this is the type of thing that's good, but is it really as good as it appears to be? measured by the iwm, up five and three-quarters percent in four trading days. was this is really good enough? what actually came out of washington will subtract off of the gdp because we did have tax increases. realistically this is good, but it's not something that would cause us to keep going straight up. liz: a question about oil. why isn't the price of oil tracking gold downw
FOX Business
Jan 12, 2013 10:00am EST
break down the nomination of heading the treasury to part of. also dr. keith tableau will tell us if violent video games are decent the tying -- desensitizing us to real violence. also the search for political and legal solutions for gun violence violence, the vice president says he will hand over recommendations to the president next week despite claiming there is no silver bullet solution but the second amendment has a ripple effect but carl cameron has more. >> guns and ammunition flying out the doors nationwide as the obama administration consummate wraps up. >> people are just scared. that they could not buy them. they thought about getting them now they decided is the time. >> background checks were 2.7 billion and 19 million during 2012. the united -- white house wants to eliminate background checks and restrict high-capacity magazines. >> i agree with the large capacity magazines. >> over the last 20 days the nra says one of a dozen people joined out of fear of new debt restrictions. they suspect of four-point to million membership will balloon up to 5 million. and they have
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